Suezmax tanker Kriti Breeze chartered for $2.3 million, packed the 740,000-barrel cargo from the Far East port of Kozmino on May 3, and is guiding to the port of Fujairah, data from Refinitiv, Kpler and Vortexa showed.
As stated by the data, the tanker is anticipated to discharge the cargo at Fujairah in late May or early June.
Two traders who regularly follow ESPO crude said the crude is typically sold to North Asia.
The shipment is very creative, and FOB (free-on-board) discounts must be enormous for it to work, one of the traders stated, directing the crude’s spot discount to Dubai quotes, excluding freight cost.
Shipping data delivers rare trade-in ESPO crude from Far East Russia to Fujairah.
Vitol could not be directly reached for comment past office hours.
The European Union is anticipated to outline oil sanctions against Russia on Wednesday for invading Ukraine. Moscow reaches its actions there a “special military operation.”
Vitol has previously stated that traded volumes of Russian oil will decrease significantly in the second quarter as current contractual obligations lower, and it will cease trading Russian oil by the end of 2022.
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